{"id":11736,"date":"2023-04-29T21:18:31","date_gmt":"2023-04-29T21:18:31","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=11736"},"modified":"2023-04-29T21:18:34","modified_gmt":"2023-04-29T21:18:34","slug":"how-hodlers-can-become-changemakers-and-drive-adoption","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11736","title":{"rendered":"How hodlers can become changemakers and drive adoption"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>If Bitcoin (BTC) were a country, it might be one of the biggest in the world. That\u2019s according to Jeff Booth, general partner at Bitcoin\u00a0venture fund Ego Death Capital and author of\u00a0<em>The Price of Tomorrow: Why Deflation is the Key to an Abundant Future.\u00a0<\/em>Cointelegraph spoke to Booth to better understand and visualize the Bitcoin movement\u2019s state in 2023.\u00a0<\/p>\n<p>Booth sat down to enjoy a pint and a chat about Bitcoin in Bedford, a small suburban town that has attracted Bitcoin advocates and key opinion leaders from all over the world. Booth commented on the emergence and resilience of the Bitcoin community and how people can get involved personally in the decade ahead. <\/p>\n<p><em>Jeff Booth (right) speaks to Cointelegraph\u2019s Joe Hall<\/em><\/p>\n<p>Booth suggested that the Bitcoin community could usher in a fundamental change to the world if its members dedicated more of their time to the cause. He said that change could be spurred \u201cif all of those people just said, I\u2019m moving and spending more of my time in this to massively step-change the adoption rate.\u201d<\/p>\n<p>The Bitcoin hodlers\u00a0\u2014\u00a0those that hold onto their Bitcoin in the hopes of the currency reaching mass adoption \u2014 are the backbone of Bitcoin. However, if more of those people could actively use their Bitcoin, the movement could pick up steam and reach its goal faster, Booth argues: <\/p>\n<p>\u201cIt would be staggering if the people that were just holding as a hedge decided, I\u2019m going to advance, I\u2019m going to spend more time in the world I want to see and move their time and attention there. The world would move there. I saw it in myself.\u201d<\/p>\n<p>From simple steps like asking if merchants accept Bitcoin to businesses choosing to accept Bitcoin as a preferred means of exchange, there are certain moves that people can make to further the cause. In-person Bitcoin meetups also contribute. Booth commented on the impact of the Bitcoin-themed Real Bedford football team\u00a0as\u00a0a way to introduce Bitcoin to a wider audience:<\/p>\n<p>\u201cHe\u2019s [Peter McCormack] using this vehicle to advance a whole bunch of other stuff, which is really cool.\u201c<\/p>\n<p>Peter McCormack told Cointelegraph in a separate interview that the Bitcoin movement in 2023 covers far more than the currency: \u201cIt\u2019s Nostr, it\u2019s Bitcoin, it\u2019s mainstream media lies, it is poor governance and regulation.\u201d Nostr is a decentralized protocol championed by Bitcoin advocates. Nostr applications like\u00a0Damus\u00a0seek to compete with Twitter and other popular social media platforms. <\/p>\n<p>Booth shared that there are more and more ways to use and engage with Bitcoin since his \u201cinitiation\u201d into Bitcoin, sometimes referred to as taking the \u201corange pill.\u201d The Canadian observes that the payments network; the Lightning Network, and Fedimint; a solution for shared custody, present more ways for Bitcoin enthusiasts to get stuck in. Moreover, a lot of engagement and interaction with these Bitcoin subsets takes place online:<\/p>\n<p>\u201cIt\u2019s amazing how many friends that I\u2019ve actually never met, and I consider them close friends that over time you develop these relationships, these online relationships that you\u2019ve never met.\u201d<\/p>\n<p>Booth added, \u201cThere is something about meeting in person and spending that time going deeper doing this, and there\u2019s something about that that I don\u2019t think can be replaced online.\u201d Initiatives like McCormack\u2019s in Bedford help bridge that gap and encourage Bitcoiners to engage with the local community.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>What security? Bitcoin enthusiast cracks known 12-word seed phrase in minutes<\/em><\/strong><\/p>\n<p>Plus, given that Bitcoiners are currently distributed across the globe, with communities popping up in Senegal, Guatemala and Vietnam, Booth sees potential for local network effects to develop. <\/p>\n<p>\u201cHow many Bitcoiners are actually just holding it and are waiting?\u201d he asked.\u00a0<\/p>\n<p>If the hodlers and those \u201cholding it [Bitcoin] as a hedge\u201d decided to spend more time in the world they want to see, and move both their time and attention there, then, as Booth concludes: \u201cThe world would move there.\u201c<\/p>\n<p><em>This interview is part of an upcoming documentary about Bitcoin in Bedford shown on Cointelegraph\u2019s YouTube channel. <\/em><em>Subscribe here. <\/em><\/p>\n<p><strong><em>Cointelegraph Magazine: <\/em><\/strong><strong><em>Bitcoin in Senegal: Why is this African country using BTC?<\/em><\/strong><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-transition-how-hodlers-can-become-changemakers-and-drive-adoption\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If Bitcoin (BTC) were a country, it might be one of the biggest in the world. That\u2019s according to Jeff Booth, general partner at Bitcoin\u00a0venture fund Ego Death Capital and author of\u00a0The Price of Tomorrow: Why Deflation is the Key to an Abundant Future.\u00a0Cointelegraph spoke to Booth to better understand and visualize the Bitcoin movement\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-11736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11736"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11736\/revisions"}],"predecessor-version":[{"id":11738,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11736\/revisions\/11738"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11737"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}